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India Cloud Storage Market

India Cloud Storage Market

India Cloud Storage Market - By Type (Solution, Service); By Deployment Mode (Private, Public, Hybrid); By Organization Size (Large Enterprises, SMEs); By End User (BFSI, IT & Telecom, Retail, Healthcare); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

  • Published Date: June 2023
  • Report ID: BWC23458
  • Available Format: PDF
  • Page: 260

Report Overview

Increasing adoption of cloud services, deepening internet penetration, growing digitalization across industries, expanding e-commerce sector, government initiatives promoting data localization, and the need for cost-effective and scalable storage solutions for businesses and individuals are propelling the growth of the India Cloud Storage Market during the forecast period between 2023 and 2029.

India Cloud Storage Market – Industry Trends & Forecast Report, 2029

India cloud storage market size is projected to grow at a CAGR of 38.25% during the forecast period between 2023 and 2029. India cloud storage market has been witnessing significant growth and is expected to continue its upward trajectory during the forecast period. The increasing adoption of cloud computing solutions by businesses, government initiatives promoting digitalization, and the rising demand for data storage and backup solutions are driving the market's growth. Also, the proliferation of smartphones, expanding internet penetration, and the emergence of big data analytics are further fueling the demand for cloud storage services in India. The market is also witnessing a shift towards hybrid and multi-cloud storage solutions to meet diverse needs. Overall, the India cloud storage market is poised for expansion as organizations recognize the benefits of scalable, cost-effective, and secure data storage solutions in the cloud.

India Cloud Storage Market - Overview

Cloud storage refers to the online storage and backup of digital data on remote servers accessed through the Internet. It offers individuals and organizations a secure and scalable solution to store and access their files, documents, images, videos, and other data from anywhere and at any time. Instead of relying on local storage devices like hard drives or physical servers, cloud storage leverages a network of distributed servers to ensure data availability and redundancy. Users can upload, download, and share files easily, while cloud storage providers handle the infrastructure and maintenance tasks, including data replication, encryption, and data center management, ensuring data integrity and accessibility.

Growth Drivers

Expanding Digital Landscape

In recent years, the India cloud storage market has witnessed a remarkable surge, driven by a multitude of factors. The primary growth driver is the rapid expansion of the country's digital landscape. With a soaring number of internet users and increasing smartphone penetration, there is a growing demand for efficient data storage solutions. Also, the government's Digital India initiative, which promotes digitalization across sectors, has further fueled the adoption of cloud storage services. Thriving e-commerce, online banking, and digital content consumption have generated an exponential amount of data, compelling businesses to seek scalable and secure cloud storage solutions. These factors combined make India's cloud storage market a thriving and lucrative industry poised for continuous growth.

Restraints

Data Security Concerns

As the India cloud storage market continues to grow rapidly, it faces a significant challenge in ensuring data security. With the increasing adoption of cloud services by businesses and individuals, the risk of data breaches and cyberattacks becomes more pronounced. India, being home to a vast number of businesses and a large population with digital footprints, is an attractive target for hackers. The lack of robust cybersecurity infrastructure and limited awareness about data protection measures pose a restraint on the growth of the cloud storage market. Addressing these concerns and strengthening data security practices will be crucial for sustained growth in the Indian cloud storage sector.

COVID-19 Impact on the India Cloud Storage Market

The COVID-19 pandemic significantly impacted India cloud storage market, driving a surge in demand for remote storage solutions. With the sudden shift to remote work and increased reliance on digital infrastructure, businesses across various sectors sought scalable and secure cloud storage options. The need for efficient data management and accessibility further fueled the adoption of cloud storage services in India. Companies offering cloud storage solutions experienced a substantial increase in their user base and revenue during the pandemic. This shift towards cloud storage not only facilitated remote work but also highlighted the importance of robust and flexible data storage solutions in times of crisis.

India Cloud Storage Market

Segmental Coverage

India Cloud Storage Market – By Type

On the basis of type, the India cloud storage market is divided into Solution and Service segments. The solution segment focuses on the various storage solutions offered by providers in the market, including public, private, and hybrid cloud storage options. These solutions cater to the storage needs of businesses and individuals, offering scalable and cost-effective storage solutions. On the other hand, the service segment encompasses the range of services provided by cloud storage providers, such as data migration, backup and recovery, security and compliance, and ongoing technical support. Both segments play a crucial role in meeting the diverse storage requirements of the Indian market, driving its growth and innovation in cloud storage technologies.

India Cloud Storage Market – By Deployment Mode

Based on deployment mode, India cloud storage market is divided into Private, Public, and Hybrid segments. Private cloud storage refers to a dedicated storage infrastructure that is exclusively used by a single organization, providing enhanced security and control over data. Public cloud storage, on the other hand, involves utilizing storage services offered by third-party providers on a shared infrastructure, offering scalability and cost-efficiency. The hybrid cloud storage segment combines elements of both private and public cloud storage, allowing organizations to leverage the benefits of both models while maintaining flexibility and customization options. These three segments collectively form the foundation of the evolving India cloud storage market.

India Cloud Storage Market – By Organization Size

By organization size, India cloud storage market is divided into Large Enterprises and SMEs segments. Large Enterprises refer to established companies with a significant workforce and extensive operations. These organizations typically have higher data storage requirements and demand more sophisticated cloud storage solutions to manage their vast amounts of data. On the other hand, SMEs are smaller businesses with limited resources and a comparatively smaller data storage footprint. They often require cost-effective and scalable cloud storage solutions tailored to their specific needs. Understanding the distinctive requirements of both segments is crucial for cloud storage providers to cater to the diverse needs of the Indian market effectively.

India Cloud Storage Market – By End User

On the basis of end users, India cloud storage market is divided into BFSI, IT & Telecom, Retail, and Healthcare segments. The BFSI sector segment is the largest contributor to the India cloud storage market. With the increasing digitalization of financial services and the need for secure data storage, the BFSI industry relies heavily on cloud storage solutions. The IT & Telecom sector also holds significant importance in the Indian market, as it requires efficient storage solutions for managing large volumes of data. Also, the retail and healthcare segments are emerging as key players in the cloud storage market, as they seek scalable and cost-effective storage options to handle their growing data needs.

India Cloud Storage Market

India Cloud Storage Market – By Region

Geographically, India cloud storage market is divided into North India, South India, East India, and West India regions. These regions represent different geographical areas within the country. Each region has its own unique characteristics and market dynamics. North India, South India, East India, and West India are home to major cities and technology hubs, attracting a significant demand for cloud storage services. The segmentation allows service providers to target specific regions and cater to the diverse needs of businesses and individuals across India. This approach ensures a more targeted and localized approach to meet the growing demand for cloud storage solutions in the country.

Competitive Landscape

Major players in the India cloud storage market include Amazon Internet Services Private Limited (AISPL), Microsoft Corporation India Pvt Ltd, IBM India Private Limited, Google India Pvt Ltd, Hewlett Packard Enterprise India Pvt Ltd, Dropbox Inc., VMware Software India Private Limited, Cisco Systems (India) Private Limited, Oracle India Private Limited, and CtrlS Datacenters Ltd. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Recent Developments

  • In March 2023 - IBM entered into a collaboration agreement with Wasabi to enable businesses to drive data innovation across a hybrid cloud environment.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2022

Base Year – 2022

Estimated Year – 2023

Forecast Period – 2023–2029

Facts Covered

Revenue in USD Million

Market Coverage

North India, South India, East India, West India

Product/ Service Segmentation

Type, Deployment Mode, Organization Size, End User, Region

Key Players

Amazon Internet Services Private Limited (AISPL), Microsoft Corporation India Pvt. Ltd., IBM India Private Limited, Google India Pvt Ltd, Hewlett Packard Enterprise India Pvt Ltd, Dropbox Inc., VMware Software India Private Limited, Cisco Systems (India) Private Limited, Oracle India Private Limited, CtrlS Datacenters Ltd

 

 

By Type

  • Solution

  • Service

By Deployment Mode  

  • Private

  • Public

  • Hybrid

By Organization Size

  • Large Enterprises

  • SMEs

By End User

  • BFSI

  • IT & Telecom

  • Retail

  • Healthcare

  • Others

By Region

  • North India

  • South India

  • East India

  • West India

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. India Cloud Storage Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Increasing data generation
        2. Cloud storage offers cost advantages over traditional on-premises storage systems
        3. Efficient data backup and disaster recovery
      2. Restraints
        1. Data security & privacy concerns
        2. Connectivity and bandwidth limitations
      3. Opportunities
        1. The adoption of cloud storage among SMEs in India
        2. Customized cloud storage solutions tailored to specific industries
      4. Challenges
        1. Infrastructure limitations
        2. Additional data transfer costs
    3. Technology Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. India Cloud Storage Market Overview
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
        1. Solution
        2. Service
      2. By Deployment Mode
        1. Private Cloud
        2. Public Cloud
        3. Hybrid Cloud
      3. By Organization Size
        1. Large Enterprises
        2. SMEs
      4. By End User
        1. BFSI
        2. IT & Telecom
        3. Retail
        4. Healthcare
        5. Others
      5. By Region
        1. North India
        2. South India
        3. East India
        4. West India
  5. North India Cloud Storage Market
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Deployment Mode
      3. By Organization Size
      4. By End User
  6. South India Cloud Storage Market
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Deployment Mode
      3. By Organization Size
      4. By End User
  7. East India Cloud Storage Market
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Deployment Mode
      3. By Organization Size
      4. By End User
  8. West India Cloud Storage Market
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Deployment Mode
      3. By Organization Size
      4. By End User
  9. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. India Cloud Storage Company Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  10. Impact of Covid–19 on India Cloud Storage Market
  11. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Amazon Web Services (AWS)
    2. Microsoft Azure
    3. Google Cloud Platform (GCP)
    4. IBM Cloud
    5. Oracle Cloud
    6. VMware Cloud
    7. NetApp
    8. Dell EMC
    9. Hewlett Packard Enterprise (HPE)
    10. Tata Communications
    11. Other Prominent Players
  12. Key Strategic Recommendations
  13. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

 

*Financial information of case of non–listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in–depth secondary research for the final deliverable.

 

 

List of Figures

 

Figure 1       India Cloud Storage Segmentation

Figure 2       India Cloud Storage Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       India Cloud Storage Market Size, By Value (USD Million), 2019–2029

Figure 5       India Cloud Storage Market Share, By Type, By Value, 2019–2029

Figure 6       India Cloud Storage Market Share, By Deployment Mode, By Value, 2019–2029

Figure 7       India Cloud Storage Market Share, By Organization Size, By Value, 2019–2029

Figure 8       India Cloud Storage Market Share, By End User, By Value, 2019–2029

Figure 9       North India Cloud Storage Market Size, By Value (USD Million), 2019–2029

Figure 10     North India Cloud Storage Market Share, By Type , By Value, 2019–2029

Figure 11     North India Cloud Storage Market Share, By Deployment Mode, By Value, 2019–2029

Figure 12     North India Cloud Storage Market Share, By Organization Size, By Value, 2019–2029

Figure 13     North India Cloud Storage Market Share, By End User, By Value, 2019–2029

Figure 14     South India Cloud Storage Market Size, By Value (USD Million), 2019–2029

Figure 15     South India Cloud Storage Market Share, By Type , By Value, 2019–2029

Figure 16     South India Cloud Storage Market Share, By Deployment Mode, By Value, 2019–2029

Figure 17     South India Cloud Storage Market Share, By Organization Size, By Value, 2019–2029

Figure 18     South India Cloud Storage Market Share, By End User, By Value, 2019–2029

Figure 19     East India Cloud Storage Market Size, By Value (USD Million), 2019–2029

Figure 20     East India Cloud Storage Market Share, By Type , By Value, 2019–2029

Figure 21     East India Cloud Storage Market Share, By Deployment Mode, By Value, 2019–2029

Figure 22     East India Cloud Storage Market Share, By Organization Size, By Value, 2019–2029

Figure 23     East India Cloud Storage Market Share, By End User, By Value, 2019–2029

Figure 24     West India Cloud Storage Market Size, By Value (USD Million), 2019–2029

Figure 25     West India Cloud Storage Market Share, By Type , By Value, 2019–2029

Figure 26     West India Cloud Storage Market Share, By Deployment Mode, By Value, 2019–2029

Figure 27     West India Cloud Storage Market Share, By Organization Size, By Value, 2019–2029

Figure 28     West India Cloud Storage Market Share, By End User, By Value, 2019–2029

 

 

List of Tables

 

Table 1        India Cloud Storage Market Size, By Value (USD Million), 2019–2029

Table 2        India Cloud Storage Market Share, By Type, By Value, 2019–2029

Table 3        India Cloud Storage Market Share, By Deployment Mode, By Value, 2019–2029

Table 4        India Cloud Storage Market Share, By Organization Size, By Value, 2019–2029

Table 5        India Cloud Storage Market Share, By End User, By Value, 2019–2029

Table 6        North India Cloud Storage Market Size, By Value (USD Million), 2019–2029

Table 7        North India Cloud Storage Market Share, By Type , By Value, 2019–2029

Table 8        North India Cloud Storage Market Share, By Deployment Mode, By Value, 2019–2029

Table 9        North India Cloud Storage Market Share, By Organization Size, By Value, 2019–2029

Table 10      North India Cloud Storage Market Share, By End User, By Value, 2019–2029

Table 11      South India Cloud Storage Market Size, By Value (USD Million), 2019–2029

Table 12      South India Cloud Storage Market Share, By Type , By Value, 2019–2029

Table 13      South India Cloud Storage Market Share, By Deployment Mode, By Value, 2019–2029

Table 14      South India Cloud Storage Market Share, By Organization Size, By Value, 2019–2029

Table 15      South India Cloud Storage Market Share, By End User, By Value, 2019–2029

Table 16      East India Cloud Storage Market Size, By Value (USD Million), 2019–2029

Table 17      East India Cloud Storage Market Share, By Type , By Value, 2019–2029

Table 18      East India Cloud Storage Market Share, By Deployment Mode, By Value, 2019–2029

Table 19      East India Cloud Storage Market Share, By Organization Size, By Value, 2019–2029

Table 20      East India Cloud Storage Market Share, By End User, By Value, 2019–2029

Table 21      West India Cloud Storage Market Size, By Value (USD Million), 2019–2029

Table 22      West India Cloud Storage Market Share, By Type , By Value, 2019–2029

Table 23      West India Cloud Storage Market Share, By Deployment Mode, By Value, 2019–2029

Table 24      West India Cloud Storage Market Share, By Organization Size, By Value, 2019–2029

Table 25      West India Cloud Storage Market Share, By End User, By Value, 2019–2029

Table 26      Amazon Web Services (AWS) Company Overview

Table 27      Amazon Web Services (AWS) Financial Overview

Table 28      Microsoft Azure Company Overview

Table 29      Microsoft Azure Financial Overview

Table 30      Google Cloud Platform (GCP) Company Overview

Table 31      Google Cloud Platform (GCP) Financial Overview

Table 32      IBM Cloud Company Overview

Table 33      IBM Cloud Financial Overview

Table 34      Oracle Cloud Company Overview

Table 35      Oracle Cloud Financial Overview

Table 36      VMware Cloud Company Overview

Table 37      VMware Cloud Financial Overview

Table 38      NetApp Company Overview

Table 39      NetApp Financial Overview

Table 40      Dell EMC Company Overview

Table 41      Dell EMC Financial Overview

Table 42      Hewlett Packard Enterprise (HPE) Company Overview

Table 43      Hewlett Packard Enterprise (HPE) Financial Overview

Table 44      Tata Communications Company Overview

Table 45      Tata Communications Financial Overview

Table 46      Other Prominent Players Company Overview

Table 47      Other Prominent Players Financial Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: The BFSI segment accounts for the highest market share in the India Cloud Storage Market by end user.
Ans: The SMEs segment holds a higher market share in the India Cloud Storage Market by organization size.
Ans: India Cloud Storage Market size is projected to grow at a CAGR of 38.25% during the forecast period between 2023 and 2029.
Ans: Major factors driving the growth of India Cloud Storage Market include increasing adoption of cloud services, rising internet penetration, growing digitalization across industries, expanding e-commerce sector, government initiatives promoting data localization, and the need for cost-effective and scalable storage solutions for businesses and individuals.
Ans: Key players in India Cloud Storage Market include Amazon Internet Services Private Limited (AISPL), Microsoft Corporation India Pvt. Ltd., IBM India Private Limited, Google India Pvt Ltd, Hewlett Packard Enterprise India Pvt Ltd, Dropbox Inc., VMware Software India Private Limited, Cisco Systems (India) Private Limited, Oracle India Private Limited, and CtrlS Datacenters Ltd.
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